Andrew Yang had the worst timing. Or rather, the coronavirus had the worst timing, from the perspective of the Yang campaign. The UBI is really the simplest and best solution to so many of our problems, not the least of which is the coronavirus and its economic fallout.
U.S. net national product per person is on the order of $50,000 per year. Yang's UBI proposal was $1000 per month. How's about we double it? Everyone receives about $25,000 per year, plus somewhat less than half of what they earn, on average, taxed progressively to support the UBI and a few other key government functions. Kids get half the adult UBI, some of it going to their parents to pay for cheetos and video games, and some to a fund for their use upon adulthood, to help with paying for college, starting a business, or throwing parties for their friends (on zoom of course).
Some people, economists among them, assert that the UBI will have big work disincentive effects and reduce national income a lot. But really, will you or anyone you know settle for your 25K? Nah, you'll be bored and want to get a decent job, and work toward those nice dinners out, vacations, and maybe a Tesla in the garage. Yeah, the garage... in your house. Mortgage.
I'm happy that Nancy Pelosi is on board for another $3 trillion in emergency spending, but how about we just make the big move once and for all? I bet if Trump went for it right now, he'd be re-elected in a landslide. Nancy, Andrew: time for that chat with Donald. Let's get it done.
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The key to unlock the UBI is not a simple skeleton key but rather a multi-toothed double key- where each tooth is a program that either stops/reduces with UBI - eg disability, farmers, homeowner mortgage break, food stamps, medicaid, etc. Maybe that is why starting small- $500 amonth, works better tactically?
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